Todd was sentenced to 12 years behind bars, with Julie getting a seven-year stay, the U.S. Attorney's Office for the Northern District of Georgia announced in a statement obtained by E! News.
"Over the course of a decade, the defendants defrauded banks out of tens of millions of dollars while evading payment of their federal income taxes," U.S. Attorney Ryan K. Buchanan said in a statement. "Their lengthy sentences reflect the magnitude of their criminal scheme and should serve as a warning to others tempted to exploit our nation's community banking system for unlawful personal gain."
Keri Farley, Special Agent in Charge of FBI Atlanta, added, "As this sentencing proves, when you lie, cheat, and steal, justice is blind to your fame, fortune, and position."
After being federally indicted in Aug. 2019, the couple was found guilty by an Atlanta federal jury on 12 counts—including wire fraud and conspiracy to commit bank fraud—on June 7, though they pleaded not guilty.
Kate—an associate attorney at Kinsella Weitzman Iser Kump Holley LLP—continued, "There's so much evidence brought that even if maybe one piece of evidence was improperly brought or one witness was excluded, an appeals court could still say at the end of the day that wasn't substantial and that wasn't prejudicial so even though we find an error, we're not going to overturn and we're not going to do a new trial."
"We did want to come on today and let everyone know that it's a very sad, heartbreaking time for our family right now," said Todd. "We still hold steadfast in our faith and we trust that God will do what he does best because God's a miracle worker. That's what we're holding out for."
E! News has reached out to their lawyer for comment on the sentencing but hasn't heard back.
This article was updated on Nov. 21, 2022, at 5:50 p.m. PT with statements from the U.S. Attorney's Office.